Everton have called in insolvency advisers this week to try and restructure their debt. They made a Desperate move to avoid a nine-point penalty from entering administration. That is the view of finance expert Kieran Maguire, who exclusively told Football Insider. Everton could face a “serious issue” if the advisers conclude that there is no solution to the club’s current situation. Everton who faced a point deduction recently are again in serious trouble due to new financial rules.
It is reported by The Guardian, Everton called in a leading firm of restructuring and insolvency advisers. It raised more concerns about the club’s ongoing takeover deal with 777 Partners after the US-based group reportedly missed scheduled payments to the club. As revealed by Football Insider, Everton could face a nine-point deduction this season if they were forced into administration.
Maguire explained that there is uncertainty over when a points deduction would be given if the Merseyside club enter administration this season. Even though they are out of relegation battle by putting great performances after their last point deduction. However if they get another nine point deduction they can again find themselves in the relegation zone.
How Desperate move of calling advisers can help them avoid points deduction
“Teams will often call in a restructuring company to identify solutions from a professional perspective which the club hadn’t thought about,” Maguire told Football Insider’s Sean Fisher. “The senior management at Goodison Park over the past few years haven’t exactly covered themselves with glory.“
If these restructuring advisors conclude that there isn’t a solution, then Everton have a serious issue. It is a complex situation and looking at the Premier League handbook, it is a nine point penalty if they go into administration. “However, it is unclear as to when that penalty is applied to the club.“
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